Developer Robert Hitchins is undertaking a major expansion of its Central Park scheme in Bridgend with 100,000 sq ft of new pre-let industrial and office space.
With a £20m development value, the company is building a 20,000 sq ft builder’s merchants and an 82,000 sq ft industrial warehousing and office facility
. The identity of the two occupiers have not been disclosed, but are described as national brands. The buildings will be completed in July and October of this year. Both are expected to create 200 permanent. Central Park forms part of the wider Bridgend Industrial Estates.
John Jones, senior asset and development manager at Robert Hitchins said: “Our commitment to deliver employment-generating development in Bridgend continues and we are proud to be investing further.
Since the acquisition of the former Kimball Electronics plant in 2006, Robert Hitchins has developed Central Park over several phases.
A scheme of 16 trade counter units amounting to 51,000 sq ft was developed in 2008, followed by a further 13,500 sq ft trade counter scheme in 2012, as well as a 40,000 sq ft facility for PCI Pharma Services in 2017.
The final two phases of development take its developments at Bridgend to 200,000 sq ft.
Neil Francis from Knight Frank, who acted as agent for Robert Hitchins of it latest letting deals, said: “Historically, Robert Hitchins has timed its investment perfectly by committing to development at times in the economic cycle when other property companies have been more risk averse. They have a track record of successfully delivering to market the right properties at the right time and the development of these two buildings in Bridgend is testament to that.
“The dramatic increase in build costs in the last three years, coupled with a downturn in the financial markets, has made development and the availability of funding difficult in all UK regions. Robert Hitchins, however, is looking to the long term in Bridgend by self-funding the development of high-quality buildings which comes as a breath of fresh air to the occupational market.”
There are further development opportunities at the park for a range of commercial buildings from 10,000 sq ft up to 145,000 sq ft.
Robert Hitchins is based at Boddington in Gloucestershire with a property portfolio across South Wales and the south west of England.
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